I've been trying to figure out all the legal/tax stuff for Etsy and it's a little confusing.
I've read that I don't need to get an EIN (employer id number) but it's better if I do.
Then that I have to get a business license. Or not.
Then that I need all this other stuff.... maybe?
Some say get the EIN, state tax id and business license just in case.
I found a forum/team for Utah "Etsians" and they say they were told they wouldn't need all this stuff, but then when it came time to file taxes, they got in trouble and threatened with fines! Some can be up to $15,000!
Better safe than sorry, I suppose.
At least the EIN is free. The license is like $20~ .
I have to find out about the city I live in and if they require certain things. A lot of that has to do with if I sell anything to anyone that also resides in Utah. Some in that forum joked that you shouldn't sell to people in Utah because it's such a hassle and there are technicalities...
Some day I'll have it worked out. I'm hoping soon. I want to get my EIN so I don't have to give my SSN out to everybody... That just seems like it could cause even more troubles for me. :/
I already have the store name and everything signed up for Etsy. I just have to list stuff and post pictures. I want to figure out the shipping profiles and get that attached to my account. I think after that, I will be golden! Then the fun can begin!!
Taxes and legal stuff.... bleh!
Until next time...
